BitPay Bitcoin Debit Card Review
- Brand: BitPay
- Price: $9.99
- Card Type: Visa
- Supports: USD, AUD, EUR, GBP, MXN, NZD, USD, ZAR
- Made in: USA
- Our Rating: ⭐⭐⭐⭐⭐
BitPay Debit Card at a Glance
The BitPay Visa Debit Card is offered by BitPay, located in the United States. The company was founded in 2011 – just a few short years after Bitcoin was first introduced, as the founders saw an opportunity in the Bitcoin payment processing market.
Though BitPay offers a Visa debit card, the company focuses most of their efforts on eCommerce payment processing and a variety of other Bitcoin payment solutions for both businesses and individuals.
The BitPay Debit Card is available in the USA as well as 130 additional countries worldwide. You can load up the card using Bitcoin, and convert it to fiat currencies including USD, AUD, EUR, GBP, MXN, NZD, USD or ZAR. Compared to all other Bitcoin debit cards, the transaction fees and application price is very reasonable.
How to Apply for the BitPay Debit Card
To sign up for a BitPay Card it will cost you a 1-time fee of $9.99. After that, other fees may apply to transactions and ATM withdrawals. The exact fee amounts are clearly outlined in their Cardholder Fees and Transaction Limits agreement.
Applying for the BitPay Visa card is easier than any traditional bank account, credit card or debit card. It only requires a few fields of personal information, including your shipping address. Once you have filled this information in, submit the processing fee of $9.99. It is worth noting that they only accept Bitcoin as a payment option when applying for a new card.
Once you have submitted your application and paid the invoice, you’ll need to wait for the application to be approved. Once approved, the card ships out in a few days and you should receive it in about one week (this timeline may vary slightly from person to person). When you get your card in the mail, you’ll want to save the paperwork that’s included in the envelope. This will have your PIN and some other information that’s worth reviewing.
The transaction limits for the BitPay Visa Debit Card are in-line with the current industry standards. Below is a breakdown of the limits you will encounter when using the BitPay card:
$10,000/Day Purchase Limit
$3,000/Day Cash Withdrawal Limits
$10,000/Day Load Limit
$500/DAY Card to Card Transfer Limit
$25,000 Maximum Card Balance
BitPay Visa Debit Card Fees
|Description||Amount||When You Get Charged|
|ATM & OTC Withdrawals||$2.00 USD||Each time you withdraw cash from an ATM. You may also be charged a fee by the ATM operator or any network used to complete the transaction.|
|ACH Debit||$5.00 USD||Each time we receive and ACH debit to be posted to your card.|
|GreenDot or Western |
|*Varies by location. Maximum fee of $4.95 USD per load||Third party reload networks may assess a fee for each load. Visit the BitPay customer service website to find a list of reload network locations and be sure to ask about the cost before conducting the load.|
|Mailed Statement||$3.00 USD||Each time you request a mailed statement.|
|Replacement Card||$9.95 USD||Each time you request a new card.|
|Expedited shipment of your replacement card||$25 USD||Each time you request expedited shipment of a replacement card.|
|Account-to-Account Transfer (Live Agent)||$5.00 USD||Each time a live agent performs a card-to-card transfer of any amount per your request.|
|Dormancy Fee||$5.00 USD per month||For each month following a 90 day period of inactivity until the card is used again.|
|ACH Decline||$15.00 USD||Each time an ACH debit transaction is declined as unauthorized or insufficient funds.|
Loading up Your BitPay Debit Card
When you have received your BitPay card and want to add some funds, it’s very simple to do so. First, just enter the USD amount (or fiat currency) you want to add to the card. This will create an invoice that is valid for 15 minutes with the BTC amount and a unique wallet address.
You can either manually send that exact BTC amount to the address on the invoice by copy/pasting it or simply scan the QR code provided. From my experience, in most cases the invoice will appear paid and available in your account nearly instantly. If you set a low TX fee, it can take up to 1 confirmation before those funds are made available in your account.
Using the BitPay Debit Card
I have been using the BitPay Debit Card for a few months now myself, and I haven’t personally had any issues. I’ve used it for both online purchases and at local stores. The only “issue” you might encounter is with the $750 transaction limit, so you will want to keep this in mind.
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